Walt Disney Co. is evaluating a possible bid to acquire social networking service Twitter Inc., according to media reports.
Bloomberg reported Monday morning that the Burbank entertainment and media giant is working with a financial advisor to buy the San Francisco mobile communications app company, citing unnamed sources familiar with the matter.
Twitter Chief Executive Jack Dorsey has served on the Disney board since 2013.
Twitter has started a process of evaluating a potential sale as interest in acquiring it began to heat up. Salesforce.com, a San Francisco cloud computing company, is also considering a bid and is working with Bank of America on the process, Bloomberg reported.
The financial news service also reported that if Disney makes a bid it could help Twitter further its video-streaming strategy.
Shares in Disney closed down $1.31, or 1.4 percent, to $91.96 on the New York Stock Exchange.